Condominium or House, Which is Right for Your New Home?

Condominium or House, Which is Right for Your New Home?

Where do you want to live when you grow up? A quiet suburban home with a manicured lawn? A condominium overlooking a city block with easy access to businesses and night life? Every person has their preferences based on their lifestyle, and it’s these preferences that lead people to sway one way or another while looking at a home purchase, but the ultimate question for some boils down to two options: Condo or House?

The first thing each person thinks of when they begin researching a large purchase: money. What will this cost me? A condominium is significantly cheaper with a lower down payment than that of a house. Budget is a driving factor for a number of purchases, but money is not everything.

How much would you pay for privacy? One of the cons of purchasing a condominium is the proximity in which you and others reside. You’ll no doubt see your neighbors daily in the hall, the elevator, or in the lobby of your complex. It is a level of intimacy most people prefer to avoid with strangers. However, if you are a sociable person and enjoy a close sense of community, this is probably not an issue for you.

How much space do you need? Anyone who has lived in an apartment knows the issue of having limited space for storage. If you want to keep the holiday ornaments, decorations, old books, and baby memorabilia, the lack of space to store these items may be a concern. You don’t have an attic or basement to store the clutter away.

Are you planning on a family? Due to the lack of space in the condos, expanding and adding new bedrooms for unexpected additions may not be an option. If you’re planning on having a family with a puppy and a few children, a house is probably more your style. The yard for swing sets, playing catch, and barbecues would be preferable to them using the hallway as a race track.

To lawn or not to lawn? One advantage to not having a spacious grassy knoll upon which to sprawl out is the lack of maintenance. You don’t have to weed the garden or mow the grass. You don’t have to purchase the items one would need, like a weed eater or gardening shears. You don’t get the sense of accomplishment and pride that comes with a compliment on your lawn or garden when you live in a condo, but you’re not tracking grass clippings through your walkway.

Your lifestyle, aspirations, and preferences will ultimately decide which direction you go when purchasing a home. Whatever direction you decide, remember this will be the place you spend the next fifteen to thirty years.

MT Real Estate was founded on the principle that consumers are not served well by the existing business model of buying and selling homes. Founder Marc Sepulveda had an eye-opening experience when he was approached by friends for assistance in selling their home.